12 Best Energy Stocks To Invest In Now

4. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Investors: 65

Schlumberger Limited (NYSE:SLB), now rebranded as SLB, is the world’s largest oilfield services company. The company provides technology, integrated project management, and information solutions to the global oil and gas industry. Schlumberger Limited (NYSE:SLB) generates revenue by offering services such as drilling, well construction, reservoir evaluation, and production management. The company’s clients include major oil and gas exploration and production companies worldwide.

Schlumberger Limited (NYSE:SLB) is focusing on developing the Direct Lithium Extraction (DLE) technology, which aims to revolutionize the lithium production process. DLE involves extracting lithium directly from brine, a saline solution found in underground reservoirs, without the need for traditional evaporation ponds. This innovative approach offers several advantages over conventional methods, including higher recovery rates, reduced environmental impact, and lower operational costs. The company’s efforts in DLE are part of its broader strategy to diversify into new energy markets and support the global transition to sustainable energy sources. Schlumberger Limited (NYSE:SLB) has made significant progress with its DLE pilot project in Nevada. The company has been working to digitally optimize the DLE process, ensuring that it is efficient, scalable, and cost-effective. The company’s expertise in data analytics and artificial intelligence (AI) is also being leveraged to fine-tune the extraction and purification processes to enhance the overall performance.

To scale up DLE technology and bring it to market, Schlumberger Limited (NYSE:SLB) is actively engaging with potential partners and customers. The company is exploring various commercialization models, including licensing the technology to other companies and forming partnerships to develop and operate DLE plants. This collaborative approach aims to accelerate the adoption of DLE technology and meet the growing demand for lithium, which is a key component in the production of batteries for electric vehicles (EVs) and energy storage systems.